DAILY CRYPTOCURRENCY NEWS

Fidelity's Research Manager Says Bitcoin Has Significant Upside Potential

Chris Kuiper, Research Manager at Fidelity Digital Assets, recently argued that the flagship cryptocurrency Bitcoin still has significant "up potential" and is a less risky investment due to its 13-year history.

First in SEC: Cryptocurrency Lending Platform Penalized - BlockFi Agrees to Pay $100M Fine

The US Securities and Exchange Commission (SEC) penalized cryptocurrency lending platform BlockFi as the first of its kind. The cryptocurrency lender has agreed to pay $100 million in penalties.

Call for Cryptocurrency Ban from Reserve Bank of India

Shri T. Rabi Sankar, Deputy Governor of the Reserve Bank of India, called for a ban on cryptocurrencies in his speech today. He argued that cryptocurrency poses several threats and that objections to a ban are largely unfounded. While the RBI is hostile to the cryptocurrency, the Indian government doesn't seem very interested in banning it.

Victoria's Secret Is Getting Metaverse-Ready by Filing for NFT Trademark

Underwear giant Victoria's Secret has filed several trademark applications with the U.S. Patent and Trademark Office, which according to trademark attorney Josh Gerben says it plans to sell virtual underwear, shoes, hats, glasses, bags and fashion accessories.

BTC Liquidity Tightens Bitcoin Held by Exchanges Hits 6-Month Low

While the price of Bitcoin is 38% lower than its high of $69,000 three months ago, the amount of Bitcoin on exchanges is at its lowest since April 2021. At the end of July last year, there were 2.59 million Bitcoin held on exchanges. There are only 2.36 million held on exchanges today. This means that there are 8.8% less Bitcoin on exchanges than six months ago.

Uber CEO Says App Will Adopt Bitcoin "At Some Point" In the Future

Uber Technologies Inc. CEO, Dara Khosrowshahi, said in an interview with Bloomberg that the company is "constantly" having discussions about cryptocurrencies. The CEO explained that the Uber platform "absolutely" intends to accept Bitcoin (and other cryptocurrencies) "at some point" in the future.

Ethereum Funds Saw Their First Inflows in 10 Weeks

Ether products have ended a nine-week exit period, and inflows to digital asset mutual funds have increased sharply over the past week. After the 9-week period, it was seen that there was an inflow of $20.9 million into Ethereum funds.
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 351982.48 TRY

Bitcoin gained a 2,20% value during morning hours and is priced around $43.528. While the price of Bitcoin is 38% lower than its high of $69,000 three months ago, the amount of Bitcoin on exchanges is at its lowest since April 2021. At the end of July last year, there were 2.59 million Bitcoin held on exchanges. There are only 2.36 million held on exchanges today. This means that there are 8.8% less Bitcoin on exchanges than six months ago.

When we consider the BTC/USDT pair technically, BTC broke the downtrend as of November 10 and surged towards $45.855. This zone (the dip level on December 2021) worked as a resistance level and along with sharp sales, BTC retreated below the 50MA level. Although the current view creates a possible head-and-shoulders formation, a daily close above the $46,900 level is required for confirmation of this pattern, and this formation may push the BTC price to the $58,000 levels.

RESISTANCES 44.251 / 45.008 / 46.271
SUPPORTS 42.231 / 40.968 / 40.211

BITCOIN [BTC] 351982.48 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24517.78 TRY

Ethereum gained a 2,93% value during morning hours and is priced around $3014. Ether products have ended a nine-week exit period, and inflows to digital asset mutual funds have increased sharply over the past week. After the 9-week period, it was seen that there was an inflow of $20.9 million into Ethereum funds.

When we consider the ETH/USDT pair technically, ETH broke the short-term minor downtrend as of January 4 upwards and surged towards the major downtrend. But the breakout of the long-term downtrend could not hold onto. ETH dropped when facing resistance from the downtrend and the 50MA level. It retreated to the support zone marked in blue. But, it found a support, and accelerated again. If the breakout of the major downtrend (tested this morning) occurs, the rise towards $3400 might follow.

RESISTANCES 3089 / 3161 / 3284
SUPPORTS 39.422 / 37.809 / 36.807

ETHEREUM [ETH] 24517.78 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 317.49 TRY

AVAX gained a 2,65% value during morning hours and is priced around $83,91. When we consider the AVAX/USDT parity technically, AVAX, which tested its major long-term downtrend several times, faced a reaction from this level and sales pressure, particularly after the data from the USA. The drop continued to the demand zone marked in blue for AVAX, which lost the 50MA level. If another breakout occurs, the next short-term support level is $72,12 (200MA).

RESISTANCES 87,00 / 90,02 / 94,89
SUPPORTS 71,22 / 74,24 / 79,11

AVALANCHE [AVAX] 317.49 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.18 TRY

Ripple gained a 2,50% value during morning hours and is priced around $0,8216. When we consider the XRP/USDT pair technically, XRP broke the downtrend and 50MA level, it had experienced a sharp rally towards the 200MA level and could hold above the 50MA. As long as this level is not lost, the rises could continue towards $0.96.

RESISTANCES 0,8467 / 0,8723 / 0,9057
SUPPORTS 0,7287 / 0,7543 / 0,7877

RIPPLE [XRP] 8.18 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 972.45 TRY

LTC gained a 2,17% value during morning hours and is priced around $127,6. When we consider the LTC/USDT pair technically, LTC, which has seen a horizontal price movement between $113,1 and $ 104,9 for a long time, broke the sideways and surged towards $145. After facing resistance from this zone, LTC lost the level of $129,8 (50MA level) on Friday. LTC, which is still priced just below its 50MA, could break upwards if positive price in the majors persists. Then, the rise towards $145 is expected.

RESISTANCES 131,63 / 135,03 / 140,23
SUPPORTS 114,43 / 117,83 / 123,03

LITECOIN [LTC] 972.45 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 2,85% value during morning hours and is priced around $16,34. When we consider the LINK/USDT pair technically, it appears the scenario we discussed last week has come true. The lower support level of the price action, which was stagnated in the daily chart was broken on Friday. After this breakout, our target level of $16 was reached yesterday. When we look at the price action this morning for LINK, which had a positive 4-hour divergence yesterday, a rally started along with the confirmation of the divergence. This price action could continue when retesting the uptrend.

RESISTANCES 16,90 / 17,44 / 18,28
SUPPORTS 14,14 / 14,69 / 15,52

BASIC ATTENTION TOKEN [BAT] 5.53 TRY

BAT gained a 2,78% value during morning hours and is priced around $0,8272 When we consider the BAT/USDT pair technically, there is no major change in the outlook, as we mentioned in the daily newsletter yesterday. BAT often tested the strong uptrend on June 2021 and broke it downwards last week. Then, it retreated towards the target level of $0,80. As of last night, we think that a short-term rise might follow for BAT, which appears to have positive divergence and confirmation in RSI. The first major resistance level is $0.9715 (50MA level).

RESISTANCES 0,8505 / 0,8712 / 0,9074
SUPPORTS 0,7367 / 0,7574 / 0,7936

BASIC ATTENTION TOKEN [BAT] 5.53 TRY +7.00 +0.03 VOL 21 BAT

We always love and support sports!

We support the Turkish sports and our sportspeople via our sponsorships agreements with 1907 Fenerbahçe Wheelchair Basketball Team, Cem Bölükbaşı, Erden Eruç, and Turkish Automobile Sports Federation! In this very rewarding and helpful journey of ours, we will continue to enrich and strengthen the Turkish sports thanks to the new steps we take in reaching brand new sponsorship agreements.